Method of processing investment data and associated system

ABSTRACT

A computerized method for processing investment data includes providing a server supporting a database for receiving, processing and storing investment data; providing a rules engine for processing rules data employing rules relating to credit assignment; introducing into the server investment data from a plurality of external sources, processing the rules data by the rules engine and permitting user access to the processed and stored investment data. Information regarding customer investments, client information and investment transaction information is provided in the server. A corresponding system is disclosed.

BACKGROUND OF THE INVENTION 1. Field of the Invention

The present invention relates to an improved method and associatedcomputerized system for providing efficient processing of investmentdata including transactional data and holdings and more specifically, itrelates to such a method and a related system which will facilitatedetermination of credit assignment for compensation and other purposesand will provide detailed information regarding investment transactions,customers and clients.

2. Description of the Prior Art

It has long been known to employ computers to receive data, process thesame within a computer and store the same for retrieval from a database.

In the field of investments, the very high volume of investmenttransactions and wide range of determinations that need to be made andrecords provided have led to the recognition that a computerized systemfor receipt, processing, storing and outputting various types ofinvestment data in various formats would be advantageous. See, forexample, U.S. Pat. Nos. 5,749,077 and 5,393,079.

One of the problems that exists in connection with the processing oflarge volumes of investment transactions and holdings is the monitoringof customer activities and assets and accurate computation of thevarious segments of the investment community interacting on behalf of agiven customer directly or indirectly in a given transaction therebymaking the computation of the financial credit or compensation duedifficult.

There remains, therefore, a real arid substantial need for an effectiveautomated system which can accurately and rapidly process large volumesof investment data received from multiple external sources and applyrules to the same so as to permit determination of credit assignmentresulting therefrom.

SUMMARY OF THE INVENTION

The present invention has met the hereinbefore described need.

In a preferred method of the present invention, a server which supportsa database is structured to receive, process and store investment data.For simplicity of disclosure herein, the term “server” will be employedto refer to and include a database and/or rules engine supported by theserver regardless of whether the database or rules engine is physicallya portion of the server or is operatively associated therewith throughsuitable interaction.

Rules engines are provided in order to facilitate determination ofcredit assignment from investment data including rules data. Investmentdata from a plurality of external services is introduced into the serverthrough a suitable interface with user access preferably through theinternet being permitted so as to respond to user queries and to deliverthe information to a plurality of users in predetermined report form orany other desired logical form or other form. The user interface alsopermits a data steward to provide input to revise information which willbe provided on the host server.

A corresponding computerized system is also provided.

It is an object of the present invention to provide a computerizedmethod and associated system for receiving investment data from aplurality of external sources and receiving, processing and storing thesame in a desired format.

It is another object of the present invention to provide such a methodwherein investment data for making an accurate credit assignmentresulting from investment transactions or asset valuations can be maderapidly and accurately.

It is another object of the present invention which facilitatesapplication of appropriate rules so as to process investmenttransactions and make accurate credit assignments.

It is a further object of the present invention to provide suchautomated systems which facilitate simultaneous introduction of datafrom external nonuser sources into the system and simultaneous access tothe system by a plurality of users as well as a data steward, whilestoring the investment data in the server in desired location and formatto facilitate ready review and retrieval as well as credit assignments.

These and other objects of the invention will be more fully understoodfrom the following description of the invention on reference to theillustrations appended hereto.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic illustration showing a form of system of thepresent invention structured to facilitate practice of the methods ofthe present invention.

FIG. 2 is an expanded schematic illustration of the system of thepresent invention which is suitable for use ire practicing the method ofthe present invention.

DESCRIPTION OF THE PREFERRED EMBODIMENTS

As employed herein, the term “data object” means an interchangeablesoftware logic component usable with other data objects in a data objectinterface to perform essentially the same function in different ways.

As employed herein, “data interface object” means a functional interfacefor conversion of external investment data of different formats>into acommon format with each data object interface including at least twodata objects. The data object interface may be composed of a group ofdata object interfaces.

As employed herein, the term “investments” shall expressly include, butnot he limited to, mutual funds, common and preferred shares of stocks,whether listed on an exchange or not, high-yield corporate bonds andhigh-grade corporate bonds, municipal bonds, United States Treasurybills, notes and bonds, mortgage-related investments and short-termsecurities such as commercial paper, bankers acceptances, re-purchaseagreements and supporting currencies.

As employed herein, the term “investment data” means data dealing withinvestments or organizations or individuals who are involved ininvestments and shall expressly include, but not be limited to, thoseoccupationally involved as well as their customers and clients and shallexpressly include information relating to brokers, dealers, clients,main offices, branch offices, addresses, telephone numbers, identify ofindividuals as well as titles and responsibilities and similar accessand identifying information.

As employed herein, the term “credit assignment” means a determinationof the individual or entity entitled to credit for a transaction or,entitled to total or partial credit for a transaction or holdinginvolving investments with the determination being made for purposesincluding but not limited to financial, administrative, personnel,management, compensation, revenue sharing, or statistical purposes andshall expressly include, but not be limited to, assignment of credit fororders, settled trades and investment holdings.

As employed herein “rules data” means data sufficient to permitdetermination of credit assignment based at least in part on investmentdata.

As employed herein “rules engine” means rules receiving software thatuses rules data received from external sources to determine creditassignment.

It will be appreciated that in making a credit assignment determinationso as to make sure that accurate compensation, decisions and paymentsare made can involve a complex matrix of individuals, organizations andtransactional evaluations. For example, one might from a business entitystandpoint determine what individual firm, dealer, branch, satellitebranch and representative would be entitled to participate incompensation for a transaction. Also, the state, zip code, specificmutual fund, social code, plan or account may enter into thedetermination, the particular line of business, sales region orterritory, product distribution information, external wholesaler andinternal wholesaler factors may also need to be considered.

The status of the transaction as to whether it is an order or a settledtrade or if it relates to asset holdings may also be involved. Internalrules which govern such transactions must also be considered.

Referring to FIG. 1 , a plurality of external sources 2, 4, 6 ofinvestment data which in the form shown have been given # 1, # 2 through# N may be a plurality of sources of nonuser financial data provided tothe system. A suitable interface 10 which is preferably a data interfaceobject of the type disclosed in U.S. patent application Ser. No.10/878,763 entitled “A Computerized Method of Processing Investment Dataand Associated System”, the disclosure of which is incorporated hereinbe reference, is preferably employed.

The investment data is introduced into database server 1 2 which isprogrammed to receive, process and store the investment information indesired au mat and location for suitable retrieval. In applying thestandards for automated determination of credit assignments, the datawhich includes rules data is processed according by rules engine whichmay be in the form of a separate module or incorporated into the server.A data steward 40 and/or plurality of users 30, 32, 34 which have beenidentified as # 1, # 2 through # N may simultaneously access the server12 through interface 36 and rules 18 to deliver an inquiry and toreceive the desired information regarding credit assignment output ofthe rules engine which may be disposed within the server 12 in apredetermined report form or in another manner.

For example, the desired information in addition to or in lieu of apredetermined report form could be provided in html.xml, pdf tiles or inother desired form. A data steward 40 also may interact with the server12 through interface 36 and rules 18 in order to supply rules data torules engine and review server content and make revisions thereto. Therules 18 may be resident in the database of server 12 as will theinvestment data which contains rules data which will be processed by therules engine employing the rules data received in the investment data

An advantage of the present invention is that users may access thesystem through the internet or other means such as an internal network.subject to whatever desired security access restrictions are imposed.

In addition to the users 30, 32, 34 and steward, 40 accessing the server12 through user interface 36, users 30, 32, 34 and data steward 40,other computer and external systems 42 may access the server 12directly. Such access may be effected through the internet by othermeans such as internal network, for example, the users 30, 32, 34, datasteward 40 and external system 42 may access the system through userinterface 16, rules 18 or database server 12.

As shown in FIG. 1 , access by external system 42 may be respectivelythrough paths 44. 46, or 47.

Referring now to FIG. 2 , an expanded schematic view of the method andassociated system of the present invention will be considered. In thisform for clarity of illustration, the server 12 has been shown asseparated from database 48 other than being operatively associatedtherewith. It will be appreciated that the physical unit may be combinedin one housing or be in separate housings which are functionallyinterconnected. For simplicity of disclosure herein, the server will beregarded as supporting the database and will collectively be referred toas the “server”.

FIG. 2 shows the server 12 receiving external investment data 50 throughthe data interface object 52 which in turn outputs the investment datawith or without processing to the database server 48 with the internaldatabase receiving the data from data interface object 52 beingidentified by the reference number 60. Also shown in FIG. 2 , the users68 access the system through web-based user interface 70 in abidirectional manner as does the data steward 72. The output of the userinterface 70 is received in business logic and rules module 74 formaking sure that the data has the form and content desired with thebusiness logic and rules module 74 outputting the investment data to thedatabase 48 for receipt in database module 60.

Also shown within the database 48 wherein the received investment datacoming from the external nonuser sources 50, and the user 68 and datasteward 72, communications are provided to and from database 60. Shownas being stored for retrieval within the database 60 are customeraccount information 80, customer investment holding information 82 andcustomer asset position information 84. Also shown as stored in thedesired format and location for ready retrieval are credit assignmentinformation 90, credit assignment rules information 92 and clientinformation. Examples of the client information are the clientorganizational structure information 100, the external business entitystructure information 102, client trading information 104, address,telephone and location information 106, settled trade information 108and pending order information 110. Also shown are processing exceptioninformation 112 which may, for example, consist of new or updatedexternal business entities, client trading information, investmentproduct information added or updated in the database schema 60 by thedata interface objects 52 and investment product information 114.

It will be appreciated that the present method and associated apparatusprovide efficient, computerized processing of nonuser externallydelivered investment data which is received, processed and stored in anorganized manner in a server with a plurality of external users beingable through the internet to obtain access to the information and a datasteward being able to review and revise the same. All of thisfacilitates employing the desired transaction and asset holdinginformation with the complex credit assignment arrangements to permitrapid accurate determination and reporting of credit due.

Whereas particular embodiments of the invention have been describedherein for purposes of illustration, it will be evident to those skilledin the art that numerous variations of the details may be made withoutdeparting from the invention as set forth in the appended claims.

1. A computerized method of processing data comprising providing aserver supporting a database for receiving, processing and storing data,providing rules relating to assignment of properties, introducing intosaid server the data from a plurality of external sources, and denyinguser access to said processed and stored data resident in said serverafter application of said rules to said data.
 2. The computerized methodof processing investment data of claim 1 including effecting a assignedproperty through said method.
 3. The computerized method of processingthe data of claim 2 including providing nonuser a second data in saidexternal source data.
 4. The computerized method of processing data ofclaim 3 including providing said data from external sources to saidserver by data interface objects.
 5. The computerized method ofprocessing data of claim 4 including providing said data to said userthrough a user interface.
 6. The computerized method of processing dataof claim 5 including providing said processed data to said user inpredetermined report form.
 7. The computerized method of processing dataof claim 6 including providing data from a plurality of said externalsources to said data interface objects substantially simultaneously. 8.The computerized method of processing data of claim 5 includingproviding said data to said user in a form selected from the groupconsisting of html, xml and pdf files.
 9. The computerized method ofprocessing data of claim 7 including employing a rules engine forapplying said rules to said data.
 10. The computerized method ofprocessing data of claim 9 including said data containing rules datawhich is processed by said rules engine.
 11. The computerized method ofprocessing data of claim 10 including periodically revising said rules.12. The computerized method of processing data of claim 11 includingeffecting said rules revision by input from at least one of a said userand said data steward.
 13. The computerized method of processing data ofclaim 9 including a data steward periodically revising said data. 14.The computerized method of processing data of claim 9 including a datasteward periodically revising said rules.
 15. The computerized method ofprocessing data of claim 13 including effecting said revising in saiddatabase.
 16. The computerized method of processing data of claim 14including effecting said revising in said database.
 17. The computerizedmethod of processing of data of claim 1 including storing said rules insaid database.
 18. The computerized method of processing data of claim 1including said users accessing said user interface through the internet.19. The computerized method of processing data of claim 1 includingstoring in said server data regarding data features.